California Housing Recovery - Market is on the Mend
California's housing market appears to be on the mend. During 2009, California had 190,360 trustee deeds recorded, where the house was taken over by lender after foreclosure. That's down 19.4% from 2008 (according to DataQuickNews.com).
Perhaps this decline is fueled by better loan mod systems and increase in short sales that have decreased inventory supply of homes on the market.
Some lenders in CA are now more willing to allow homeowners to sell at short system, when the value of the home is less than the mortgage.
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posted by Harrison K. Long @ 9:53 AM
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